J Crew Inc
Textile and apparel has grown to become one of the main pillars of Mauritius' economy in the last decade. Trade deals in place with Europe a...
Strategically located along the trading route between Asia and Africa, Mauritius is fast emerging as a major sourcing hub for textile and ap...
In little over a year, the AGOA trade preference programme is due to expire. The programme, which provides duty-free entry into the US for certain goods, has been particularly effective for Mauritian textile and apparel manufacturers, most of whom are optimistic the deal will be renewed. Michelle Russell reports.
The Mauritian textile and apparel industry has overtaken sugar to become the country's largest export, with a turnover of around US$885m in 2013, a marginal increase of just 0.07% over the year before. Local textile and clothing manufacturers are working hard to sustain this growth, with several sharing their future ambitions with just-style.
North America may no longer take centre stage in the global apparel market, but the recession has by no means sounded the region's curtain call, according to Euromonitor International.
Instead of focusing on product costs as a way of offsetting the pressures faced in both retail and sourcing markets, the apparel supply chain should look instead at optimising processes, boosting collaboration and generally getting smarter, industry executives believe.
In the most recent fourth-quarter filings from US apparel and footwear brands and retailers, Destination XL moved to a profit but booked lower sales, while Caleres moved to a loss in the quarter. VF Corporation, meanwhile, revealed a fall in both sales and earnings for the quarter, while Stein Mart moved to a loss as a result of "aggressive" promotions.
US fashion retailer J Crew is understood to be in discussions with its creditors to renegotiate around US$2bn of its debt as its struggles with falling sales.
In the most recent third-quarter filings from US apparel and footwear brands and retailers, Sears Holdings remained optimistic despite widening its net losses, while Vince Holding blamed challenging conditions and warm weather for a fall in both earnings and sales. Abercrombie & Fitch, meanwhile, revealed a "disastrous" quarter as sales fell and earnings plummeted 80%, while American Eagle Outfitters booked record sales and its 9th consecutive quarter of profit improvement.
US fashion retailer J Crew Group has started to separate its Madewell brand from the parent company, reports say, in a move that may lead to a sale or spinoff.
In the most recent second-quarter filings from US apparel and footwear brands and retailers, Tailored Brands showed improvement on Q1 but saw earnings slide, while DSW booked mixed results. Abercrombie & Fitch widened its net losses but remained optimistic, while Destination Maternity revealed improved losses. Express, meanwhile, delivered what it described as a "disappointing" second-quarter, below management expectations, and Macy's saw a "distinct" improvement in its sales and earnings trends for the quarter.
In the most recent fourth-quarter filings from US apparel brands and retailers, Destination Maternity and Perry Ellis saw their losses narrow, while New York & Co moved to a net profit. However, Iconix Brand Group cut its outlook after swinging to a loss, Finish Line saw its net profit plummet 90%, and Cherokee Global Brands posted a mixed performance.
In the most recent third-quarter filings from US apparel brands and retailers Gymboree, Aeropostale, Sears and New York & Co narrowed their losses, while Oxford Industries, Destination Maternity and J Crew saw theirs widen. Both The Finish Line and Men's Wearhouse swung to a loss. On a positive note, The Children's Place, Express, American Eagle Outfitters, G-III Apparel Group and Abercrombie & Fitch booked higher earnings.
Second-quarter earnings for the retail sector as a whole are forecast to be lower than the prior month, despite easy year-on-year comparisons. The Finish Line posted a small drop in net income, Zumiez saw its profit more than halve, Cherokee Global Brands posted a double-digit decline in net earnings, while Christopher & Banks swung to a loss, and Hudson's Bay was back in the black.
US omni-channel retailer J Crew has launched a new, lower-priced chain as it looks to win value-seeking consumers.
First-quarter revenue forecasts for US apparel retailers fared far worse than earnings expectations. The Finish Line said it got off to a "solid start" with double-digit profit growth, and Cherokee was pleased with a "strong" quarter, despite some headwinds. Elsewhere, Urban Outfitters revealed a mixed quarter, while Men's Wearhouse booked record sales but a decline in earnings.
Clothing retailer J Crew has replaced its head of design and announced plans to cut around 10% of its corporate workforce as part of several organisational changes.
The most-read stories on just-style this week include at look at US apparel sales figures for May, just-style speaks with the chairman of sourcing specialist William E. Connor, and Levi joins forces with internet behemoth Google to design "smart jeans".
Clothing retailer J Crew slid to a fourth quarter and full-year loss, impacted by large-scale charges related to impairment and refinancing.
The appointment of J Crew executive Stuart Haselden as CFO for Canadian yoga wear brand Lululemon Athletica is a solid fit, analysts believe.
US fashion retailer J Crew Group has moved to a net loss in third-quarter thanks to write-downs on the value of its retail store operations and non-cash impairment charges.
US fashion retailer J Crew Group is entering what it describes as a new phase in its international expansion with the opening of its first stores in France.
Bill Blass has appointed Chris Benz as its creative director as the US fashion business prepares to relaunch as a global lifestyle brand.
Fashion retailer J Crew Group has seen its second-quarter profit slump 38.3% on the back of higher costs.
A buy-out of troubled US apparel retailer Express Inc by Sycamore Partners looks likely, analysts believe, after the private equity firm last week acquired a 10% stake and said it wants to craft a formal proposal to acquire the rest of the company.
Fashion retailer J Crew Group has moved to a net loss in its first-quarter and revealed it may record a non-cash impairment charge if operating results continue to decline.
Fashion retailer J Crew Group has marked its return to Asia with the opening of two stores in Hong Kong.
Fashion retailer J Crew Group has recalled around 8,700 baby coveralls after eight reports the snaps on them had detached, posing a choking hazard.
US retail giant Gap Inc has tapped former J Crew Group designer, Marissa Webb, as creative director and executive vice president of design for its Banana Republic brand.
Fashion retailer J Crew Group posted a slump in fourth quarter profit thanks to shrinking margins, which fell to 36.8% from 38.4% 12 months earlier.
just-style turned the spotlight on Ethiopia last week, marking the release of a new research report looking at the country's emerging apparel and textile industry with additional insights into its rising potential for sourcing garments.
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